Corestate Capital Holding, a fully integrated investment manager and co-investor headquartered in Luxembourg, is currently setting up an open-ended special AIF with a focus on residential property in Germany. An initial €70m equity for the seed portfolio has already been secured; the first investor is a German pension fund. The target volume of the Corestate Residential Germany Fund II is at least €300m. Hannover Leasing Investment is mandated as the investment management company.
The Corestate Residential Fund II focuses on newly built residential property in metropolitan areas and prospering cities throughout Germany and will aim at an annual payout rate of at least 4%.
Thomas Landschreiber, CIO and Co-Founder, Corestate: “The increase in demand from institutional investors since Corestate’s listing in autumn 2016 is remarkable. Due to our strong network and asset sourcing capabilities we have top quality assets worth several billion EUR in our pipeline, which secures us an excellent advantage over our competitors. Residential real estate represents one of our strongest asset classes.”
CAPERA Immobilien Service, a Corestate subsidiary, will be responsible for the property management.
